K-pop Group NewJeans Issues Ultimatum to Hybe Co., Demands Reinstatement of Producer Amid Management Crisis
In a rare and dramatic move within the K-pop industry, the popular group NewJeans has issued a public ultimatum to their management company, Hybe Co., demanding the reinstatement of their long-time producer, Min Hee-jin, by September 25. This development has sent shockwaves through the industry and led to a significant drop in Hybe’s stock value.
The five-member group took to YouTube for a surprise live-stream on Wednesday evening, where they accused Hybe of discrimination and called for immediate measures to protect their interests. NewJeans, one of the top-grossing K-pop acts, reportedly generated approximately 100 billion won ($73 million) in revenue last year, further highlighting the gravity of their demands.
The controversy stems from Hybe’s decision to oust Min Hee-jin as CEO of ADOR, the label responsible for NewJeans, in August. This decision came despite a court order prohibiting Hybe from removing Min from her position, a move that has intensified the ongoing dispute between her and the management company.
In their live-stream, NewJeans members voiced their frustrations, urging Hybe’s chairman, Bang Si-Hyuk, to rectify the situation. “If our message has been properly conveyed, we hope chairman Bang and Hybe will make a wise decision to restore ADOR to its original state by the 25th,” said Minji, one of the group’s members.
The internal conflict at Hybe has already taken a toll on the company’s market value, which has dropped by 27% since the dispute began in mid-April. Hybe initiated an internal audit into Min’s activities, accusing her of attempting to take control of ADOR. The legal battle over Min’s role continued in court, where the judge ruled in her favor, ordering her reinstatement.
“All we want is this legal conflict to be resolved and for our working environment to return to normal as it was before,” added member Hanni during the live-stream.
Hybe has not yet responded to requests for comment regarding the latest developments. The unfolding situation underscores the broader issues facing the K-pop industry, where power struggles and management disputes can have significant impacts on both artists and financial markets.